In an originating application under Section 213 of the SARFAESI Act, the State Bank of India sought recovery of amount due including interest and sale of hypothecated movables from a proprietary concern and its guarantor who defaulted on a loan facility.
Recovery of principal amount, interest, and sale of hypothecated movables as mentioned in the schedule.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD
DATED THrs rHE lgrH DAY oF MAY, 2025
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.57 ol 2025
Between:
State bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC Commuter Amenity Centre, Bus Terminal complex, Koti, Hyderabad - 500 095. Represented by its Authorised officer
Applicant
VERSUS
Represented by its Proprietor, Modem Jayamma, W/o M. Chinnappa, Office at H.No.40-15/1-9l1, Siris Raju Street, Brundavan
Colony, Labbipet, Venkateshwarapuram, Vijayawada - 520 010.
Andhra Pradesh - 5t7 325.
Also at :
H. No. 5 1/142-5-20-3- t, Madanapalli road, Rayachoti, Andhrapradesh - 516 269, .---iff:'
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Also at :
H . No.40- 15/ 1-9l 1, Siris Raju Street, Brundavan Colony, Labbipet, Venkateshwarapuram, Vijayawada - 520 010.
Defendants
Counsel for the Parties:
For the Applicant SmtTaranginiPisipati For the Defendants Exparte
ORDER
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to OA. The defendants executed agreement of loan cum hypothecation and guarantee agreement dated 28.02.2022. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 28.09.2024 and recall notice was issued on ZB.OL.202S. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
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(G. GOPICHAND)
PRESIDING OFFICER
1 I rrtil 2$?5 TRUE CUPY
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1 issue framed by the court
Whether the Applicant Bank is entitled for the claim made in the Originating Application against the Defendants as prayed for?
State bank of India
M/s. Reddy Enterprises
Sri Gummadi Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
